By Lisa Wiebe, Huffington Post reporterThe millennial generation is on its way to becoming the first generation to be paid a salary for their education.
The new generation, the ones who are graduating at an alarming rate, is earning less than they did in the past and are living in a world of precarious work and low-paying work, with a shrinking middle class.
The numbers for millennials in the United States are among the most dismal in the developed world, and that trend is set to continue.
That’s the finding of a new report by the National Association of Colleges and Employers.
According to the report, the median millennial salary in the U.S. in 2021 is $31,000, a decline of 2.3 percent from last year.
That means the median salary for a millennial is just $2,400 less than what the median American salary was in 2021.
And while the median annual salary for college graduates is expected to increase by $1,300 by 2027, it’s projected to drop by just $700 in 2021 due to the economy’s slow recovery.
As for the job market, millennials are expected to make up more than half of the workforce by 2025, but are struggling to find a steady job.
The job market for millennial workers in 2020 was just 38 percent of the labor force, according to the National Bureau of Economic Research.
The report comes at a time when a growing number of college graduates are starting their own companies and finding themselves on the job hunt, finding themselves without the support they need to get a foothold in the job economy.
It’s not just the millennial generation who are struggling with the lack of employment, it also the generation that will make up the future of America.
The millennial workers who are leaving the workforce have some things in common.
The most common reasons for leaving the labor market were having kids, moving away or taking time off work to pursue a degree.
But the report also found that many other millennials are also leaving the jobless.
Millennials in the age group of 35 to 44 are expected not only to earn less than the median worker but also to work longer hours.
For those 35 to 45, the number of hours they worked last year dropped by 4.5 hours a week, the report found.
Those who worked 50 to 64 hours a year saw their hours go up by a whopping 10 hours a day.
Millennials are starting to be more involved in the labor forces, but their job search is not.
More than 40 percent of millennial workers were employed in their first full year of college, but only 25 percent of those millennials were employed after their first year.
And the percentage of millennials who are looking for full-time work has dropped from 37 percent in 2021 to 26 percent in 2022.
The unemployment rate for the millennial cohort is expected go down from 4.4 percent in 2019 to 4.3 in 2020.
But while there is more work for millennials to do, the country’s unemployment rate is also expected to go up.
The number of people working part-time for economic reasons is expected rise from 12.3 million in 2019, to 17.6 million in 2020, and to 20.7 million in 2021, the NAE report found, citing data from the U-6 Census.
In fact, the unemployment rate has been going up for decades.
In 1965, the U,6 census recorded 9.4 million people working full time.
In 2016, the figure was 13.9 million.